Abstract
The purpose of this article is to describe the actuarial science program at our university and the development of a course to enhance students’ problem solving skills while preparing them for Exam P/1 of the Society of Actuaries (SOA) and the Casualty Actuary Society (CAS). The Exam P/1 prep course, formally titled Mathematical Foundations of Actuarial Science, has been offered twice by our institution. Since its offering, nine students have sat for Exam P/1 and seven students passed the exam (three students passed on their first attempt). This course has created a new culture emphasizing studying for actuarial examinations and has established camaraderie among actuarial science students at our institution. The Spring 2010 and Spring 2012 versions of the course will be described and compared and future changes to the course will also be presented.
Notes
1 The SOA describes the VEE program and has forms available for approval of a course available at this site.
2 At the site, one can find links to sample examination problems, the current examination syllabus with recommended texts, links to study manuals and other resources, and links to SOA/CAS past examinations.
3 On this site, the syllabus for Exam P/1 can be obtained. In that syllabus, several textbook resources covering the topics found on the exam are listed.
4 Study manuals and other resources available for Exam P/1 are available from these vendors, among others. The last site listed is the site for A/S/M, which published the study manual used as a required text in Spring 2010.
5 Dr. Myron Hlynka of the Department of Mathematics and Statistics at the University of Windsor has compiled a list of online resources for students preparing for Exam P/1 and listed them on this site.
6 The Saab actuarial online test page offers students the chance to take computerized practice exams for many actuarial examinations.
Additional information
Notes on contributors
Thomas P. Wakefield
Thomas P. Wakefield an Associate Professor in the Department of Mathematics and Statistics and an Associate in the Society of Actuaries. He received his Ph.D. in Pure Mathematics from Kent State University in August 2008 and spent a year teaching at Slippery Rock University. His research interests include the representation theory of simple groups, particularly with regards to character theory. He is also interested in actuarial science and applications of mathematics to finance and economics.